Proprium Capital Partners’ Sale of 4,300 Flats in North Rhine-Westphalia And Bremen Close

SNP Schlawien, Baker Tilly and DLA Piper advised Proprium Capital Partners on the deal.

Proprium Capital Partners announced the sale of a real estate portfolio with a total of 4,300 flats in North Rhine-Westphalia and the Bremen metropolitan region. The advice included both comprehensive vendor due diligence and support in drafting and negotiating the contract.

The residential buildings in the portfolio have a total area of 275,000 m² and were built between 1920 and 1990. The annual rental income amounts to approx. € 20 million with a current vacancy rate of approx. 5%.

Proprium Capital Partners is a privately-held real estate focused principal investing firm, advising funds which have a combined net asset value of approximately $3 Billion. Proprium and its affiliates manage funds for over 50 institutional investors, including government and private sector pension and retirement funds, banks, family offices and sovereign wealth funds.

The SNP Schlawien Partnerschaft team included Sascha Sormann (Picture – lead real estate), Dr. Philipp Schlawien (Lead Corporate/M&A) and Lisa Knöll (Real Estate).

The Baker Tilly was led by Dr. Steffen Meining (Tax).

The DLA Piper team included Eveliene Brouwer, Sander Wiggers, Laura Smit, Gabriel Altig, Noor Gerver (all Dutch law).

Involved fees earner: Steffen Meining – Baker Tilly; Eveliene Brouwer – DLA Piper; Noor Gerver – DLA Piper; Laura Smit – DLA Piper; Sander Wiggers – DLA Piper; Lisa Knöll – SNP Schlawien; Philipp Schlawien – SNP Schlawien; Sascha Sormann – SNP Schlawien;

Law Firms: Baker Tilly; DLA Piper; SNP Schlawien;

Clients: Proprium Capital Partners;

Author: Federica Tiefenthaler